Causal relationship between financial development and economic growth: Evidence from Turkey

Basit Öğe Kaydı
dc.authorscopusid55337333900
dc.contributor.authorKarahasan, B.C.
dc.date.accessioned2024-07-18T20:17:59Z
dc.date.available2024-07-18T20:17:59Z
dc.date.issued2012
dc.description.abstractFinancial development and economic growth link is a closely investigated area. While historical and traditional studies dominate the literature, mainly after the rise endogenous growth models, mechanical studies evolve to describe the possible relationships. Originating from the McKinnon and Shaw hypothesis (1973), this chapter aims to discuss the financial development and economic growth relation with special emphasis on the causality debate in Turkey. While cross-section studies of early 1990s clarify the McKinnon and Shaw hypothesis, the rise of time series evidence during the late 1990s starts to question the direction and the strength of the hypothesis. Following the ongoing debate, this chapter concentrates on bank-based and stock market-based financial intermediation channels in Turkey. Applying a vector autoregressive (VAR) framework and checking for the cointegration behavior, models indicate conflicting results with the expectations. While the strength of the relation between financial development and economic growth varies between the chosen indicators, the short-run and long-run impacts are also at odds. ©2012 Nova Science Publishers, Inc. All rights reserved.en_US
dc.identifier.endpage121en_US
dc.identifier.isbn9781613248478
dc.identifier.scopus2-s2.0-84891975657en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage101en_US
dc.identifier.urihttps://hdl.handle.net/11411/6824
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherNova Science Publishers, Inc.en_US
dc.relation.ispartofEconomic Development in the Middle East and North African Countries: Contemporary Issuesen_US
dc.relation.publicationcategoryKitap Bölümü - Uluslararasıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.titleCausal relationship between financial development and economic growth: Evidence from Turkeyen_US
dc.typeBook Chapteren_US

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